Mr. Peter O'Neill:

To address the question of skills, there are a number of metrics in terms of how Ireland is positioned on skills and there are many positive points.

While there are several positive points in terms of the number of children participating in third level education, we have also noticed warning signals for several years. We have been vocal about the need to be cognisant of these signals.

In regard to the changing mandates of companies located here, we are all trying to move up the value chain. While this is great in terms of the quality of the jobs offered, it also means they will increasingly be skills based. The demographic changes that will take place in Europe in the coming 15 to 20 years offer Ireland an opportunity to become an attractive hub if we have the right quality of people available. It is a question of putting in place long-term educational policies to reform everything from the junior cycle programme to third level, balanced with shorter term tactical actions because, obviously, we will not see the college outcomes of junior cycle programme reform for another eight years.